If you fall behind in your mortgage payments, don’t try to hide from the lender.  Answer the phone and open all mail.  Lenders are motivated to work out solutions to avoid foreclosure, and you have more bargaining power than you might think.

If the lender offers a workout plan, listen to the lender’s prosposal, but do not agree to anything without first reviewing the plan with your financial advisor or attorney.

Keep detailed notes of all your calls and correspondence with the lender.  Make note of the date and time of any telephone conversation, and the name of the person you spoke with.  When you receive mailed correspondence, keep the envelope showing the postmark.